Cambodia seeks China's assistance in establishing first FTZ
| News Highlights |
Economy and Industry
Cambodia seeks China's assistance in establishing first FTZ Sun Chanthol, Deputy Prime Minister of Cambodia, has requested Chinese officials to collaborate on establishing the Kingdom's first free trade zone (FTZ) and expanding special economic zones (SEZs). During meetings with high-ranking Chinese officials, Chanthol emphasized strengthening bilateral relations and leveraging China's experience in FTZ development. He highlighted the potential for increased trade and investment, particularly in electronics and automotive sectors. The establishment of an FTZ could boost Cambodia's trade and export opportunities, complementing the existing SEZs. Last year, Cambodia's trade with China reached $12.26 billion, reflecting a growing economic partnership. (Source: Khmer Times)
Cambodia-Korea Friendship bridge to break ground in 2025 The groundbreaking ceremony for the Cambodia-Korean Friendship Bridge, set to be the largest and longest bridge in Cambodia, will begin in 2025, according to South Korean President Yoon Suk Yeol. The announcement was made during a meeting with Cambodian Senate President Hun Sen in Seoul. President Yoon emphasized the bridge's role as a symbol of the strong partnership between the two nations and highlighted Korea's increased development assistance to Cambodia. The two leaders discussed expanding economic ties, with Hun Sen urging Korean investment in Cambodia and extending opportunities for Cambodian migrant workers in South Korea. The $245 million bridge is expected to enhance bilateral relations, especially as both countries approach the 30th anniversary of their diplomatic ties. (Source: Khmer Times)
Angkor Enterprise rolls out first phase of its service improvement Angkor Enterprise has announced a new ticketing system for Angkor Archaeological Park, aimed at enhancing the visitor experience. Starting October 9, the updated system eliminates the need for passport photos and personal details for one-day tickets, though multi-day tickets will still require a photo for security purposes. Additionally, ticket checks will now occur only at temple entrances rather than park gates. This change is the first phase of planned reforms to better accommodate foreign tourists, with further improvements expected early next year. (Source: Khmer Times)
Corporate News
Sihanoukville port expansion to increase national freight capacity Prime Minister Hun Manet inaugurated a 253-meter extension of Sihanoukville Autonomous Port's container terminal, which is set to nearly double its capacity to one million TEUs annually. This $37.5 million expansion, funded by government loans and the port's budget, will accommodate larger container vessels with a depth of 10.4 meters and reduce shipping costs. Constructed over 17 months by TOA Corporation with technical support from Nippon Co. Ltd., the extension aims to modernize the port's infrastructure and boost Cambodia's competitiveness in international trade. The expansion aligns with Cambodia's plans to develop additional deep-water ports to enhance its maritime logistics network. (Source: Kiripost)
Stock Market
CSX index slightly rises by 0.01% amid mixed performances on September 13, 2024 On September 13, 2024, the CSX index rose by 0.01%, closing at 411.9 points. The main board saw gains in PPAP (+2.36%), GTI (+0.26%), and PAS (+0.17%), while PEPC (-3.21%) and PWSA (-0.30%) declined. Meanwhile, PPSP, ABC, MJQE, and CGSM remained unchanged. On the growth board, DBDE and JSL rose by 0.49% and 0.29%, respectively. The total trading volume reached 39,821 shares, with a cumulative trading value of KHR 252 million. (Source: YSC Research)
| CSX Stocks |
CSX Index
| Value | 1D % Chg | 1D Vol | Mkt Cap (KHR'bn) |
| 411.91 | 0.01 | 39,821 | 11,048 |
Stock Performance
| Stock | Close (KHR) | 1D chg (%) | MTD chg (%) | YTD chg (%) | 1M high (KHR) | 1M low (KHR) | MTD vol (shr) | Mkt cap (KHR'bn) |
| PWSA | 6,660 | -0.30 | -2.92 | -8.52 | 6,880 | 6,660 | 158,763 | 579 |
| GTI | 3,820 | 0.26 | 6.11 | 34.51 | 3,830 | 3,590 | 121,181 | 153 |
| PPAP | 13,900 | 2.36 | 2.21 | -0.71 | 14,520 | 13,360 | 2,111 | 288 |
| PPSP | 2,220 | 0.00 | -0.45 | 1.83 | 2,260 | 2,210 | 17,117 | 160 |
| PAS | 11,860 | 0.17 | -0.34 | -5.72 | 12,000 | 11,800 | 14,335 | 1,017 |
| ABC | 7,500 | 0.00 | 0.27 | -25.45 | 7,500 | 7,460 | 338,249 | 3,249 |
| PEPC | 2,410 | -3.21 | -1.63 | -12.04 | 2,500 | 2,400 | 14,766 | 181 |
| MJQE | 2,040 | 0.00 | 0.00 | -4.23 | 2,050 | 2,030 | 45,340 | 661 |
| CGSM | 2,430 | 0.00 | 0.41 | -7.60 | 2,430 | 2,400 | 27,584 | 4,761 |
| DBDE | 2,070 | 0.49 | 0.00 | -3.27 | 2,090 | 2,060 | 32,100 | 38 |
| JSL | 3,460 | 0.29 | 0.87 | -21.36 | 3,490 | 3,380 | 12,070 | 89 |
| 1D = 1 Day; 1M= 1 Month; MTD = Month-To-Date; YTD = Year-To-Date; Chg = Change; Vol = Volume; shr = share; Mkt cap = Market capitalization | ||||||||
Valuation Ratios
| EPS | BPS* | P/E | P/B | P/S | EV/EBITDA | ||
| ttm,mrq | (ttm,KHR) | KHR | (ttm,x) | (mrq,x) | (ttm,x) | (ttm,x) | |
| PPWSA | 1Q24 | 1,298 | 16,580 | 5.13 | 0.40 | 1.51 | 9.80 |
| GTI | 2Q24 | 47 | 7,165 | 81.39 | 0.53 | 0.46 | 16.46 |
| PPAP | 2Q24 | 1,800 | 39,401 | 7.72 | 0.35 | 2.16 | 4.95 |
| PPSP | 2Q24 | 85 | 3,560 | 26.03 | 0.62 | 1.41 | 7.89 |
| PAS | 2Q24 | 1,132 | 11,977 | 10.47 | 0.99 | 2.63 | 6.66 |
| ABC | 2Q24 | 1,554 | 13,448 | 4.83 | 0.56 | 0.95 | NA |
| PEPC* | 4Q24 | -1,035 | 165 | NA | 14.56 | 4.25 | NA |
| MJQE | 2Q24 | 59 | 314 | 34.75 | 6.49 | 4.29 | 29.65 |
| CGSM | 2Q24 | 160 | 609 | 15.14 | 3.99 | 6.43 | 15.28 |
| JSL | 2Q24 | 1 | 669 | 4132.53 | 5.17 | 1.07 | NA |
| DBDE | 2Q24 | 80 | 1,932 | 25.85 | 1.07 | 0.55 | 8.80 |
| NOTE: ttm= trailing-twelve months; mrq = most recent quarter; *FY ending in June | |||||||
| Corporate Bonds |
Trading Summary
| Bond Symbol | Trading Vol (Units) | Trading Val (KHR'mn) | Latest Yield | Credit Rating | Bond Feature | Coupon Rate (%) | Days to Maturity |
| CGSM33A | 0 | 0.0 | - - | KhAAA | Sustainability | Floating* | 3,350 |
| CIAF28A | 0 | 0.0 | - - | KhAAA | N/A | 6.30% | 1,554 |
| GT27A | 0 | 0.0 | - - | N/A | Plain , Green | 7.00% | 1,179 |
| PPSP29A | 0 | 0.0 | - - | KhAAA | Guaranteed Green | Term SOFR + 1.5% | 1,741 |
| RMAC25A | 0 | 0.0 | - - | N/A | Guaranteed | 5.50% | 208 |
| RRC32A | 0 | 0.0 | - - | N/A | Plain | 7.00% | 2,949 |
| RRGO27A | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating** | 1,196 |
| RRGT32B | 0 | 0.0 | - - | KhAAA | Guaranteed | Floating*** | 3,023 |
| TCT26A | 0 | 0.0 | - - | N/A | Plain | 4.50% | 711 |
| TCT28A | 0 | 0.0 | - - | KhAAA | FX-Linked | Floating**** | 1,568 |
| *SOFR +3% or 5.5% , whichever is higher; **SOFR+3,5% or 5% (take which one is higher);***SOFR+3,5% or 5% (take which one is higher) and Year 6 to Year 10: SOFR+3,75% or 5% (take which one is higher);****Term SOFR + 2.5% | |||||||
| Government Bonds |
Historical Issuance Summary
| 1 Y | 2 Y | 3 Y | 5 Y | 10 Y | |
| Total issuance ('K units) | 180.1 | 312.0 | 65.3 | 10.0 | 0.0 |
| Outstanding (KHR'bn) | 52.0 | 312.0 | 65.3 | 10.0 | 0.0 |
| Issuance ('K units, Latest) | 10.0 | 20.0 | 43.3 | 10.0 | 0.0 |
| Coupon rate (Latest) | 3.50% | 4.00% | 4.50% | 5.00% | 5.25% |
| Successful yield (Latest) | 3.85% | 4.00% | 4.63% | 5.00% | - |
| Latest bidding | 24-Apr-24 | 29-May-24 | 26-Jun-24 | 45,497 | 45,525 |
| *Total issuance is the accumulated issuance since September 2022; **Outstanding is aggregate principal value of government that remain outstanding; ***Successful yield: mid yields are shown if multiple price auction method was adopted. | |||||
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